-LRB- CNN -RRB- -- A 16-year-old boy has been arrested in the murder of two British men , found shot dead at 3 a.m. Saturday in Sarasota , Florida , police say .

Sarasota Police have identified the victims as James M. Cooper , 25 , and James Thomas Kouzaris , 24 , both from England .

The juvenile , who police said was arrested previously this month on a charge of aggravated assault with a handgun , was arrested 24 hours after the murders at 3 a.m. Sunday . Where he was arrested was not disclosed .

Police were alerted to the incident by a 911 caller who said `` a person was lying on the ground covered in blood '' at the scene , on a one-way residential street with no businesses .

Sarasota Police Chief Mikel Hollaway said officials are trying to determine why the men were there .

`` We have our suspicions , but at this time it would be unfair to state those , '' he said . `` I believe they were there of their own volition . ''

The neighborhood where the British men were found is a housing project in north Sarasota called Newtown , Hollaway said .

The teen suspect in the case lives near the crime scene , police said .

Although the housing authority has worked to improve the complex , `` it has its problems , '' Hollaway said . `` This is an isolated incident . ''

The murders were the first homicides of the year , he said .

The two men were believed to be friends who recently graduated from college and were in Sarasota to celebrate , police said .

`` On behalf of the city of Sarasota , we want to express our condolences for the families of the two victims who were obviously on holiday from the United Kingdom , '' Sarasota Mayor Kelly Kirschner said .

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NEW : Police are trying to determine why the men were at a housing project

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Two men found shot dead Saturday in Sarasota , Florida

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Shooting occurred in a residential area on a one-way street